Electrical Steel Market
- The Global Electrical Steel market was valued at USD xx million in 2017 and is estimated to reach USD xx million by 2025, with a CAGR of xx% during the forecast period 2019 to 2026. Electrical steel is special steel tailored to produce specific magnetic properties, high permeability and low amount of core loss.
Electrical Steel Industry Dynamics
- The Global Electrical Steel market is majorly influenced by factors such as increasing industrialization, flourishing automotive industry, and growth in the energy sector. Moreover, electrical steel has a variety of application in the construction industry.
- The high rate of industrialization is expected to drive the market for electrical steel.
- The market for Hybrid Electrical Vehicles (HEVs) is increasing because of the growing environmental concerns and limited oil reserves.
- Hybrid vehicles are the future of the automotive industry, non-grain oriented electrical steel has broad applications in HEVs; thus the market for non-grain oriented electrical steel is expected to grow exponentially in the coming years.
- Challenges in the processing of electrical steel is a significant barrier to the growth of the Global Electrical Steel Market.
Electrical Steel Segmentation
- The Global Electrical Steel Market is classified based on type, application, and end-user. Based on the form the market has been segmented as Grain Oriented Electrical Steel and Non- Grain Oriented Electrical Steel.
- Further, the market has been divided by application such as Transformers, Motors & Generator, Inductors, and others. Also, the market is classified by the end-user industry as Automotive Industry, Construction, Manufacturing, Domestic appliances, Energy, and Others.
- Grain-oriented electrical steel has more significant market share than other segments. It is mainly used as a core material for transformers.
- The energy sector is growing at a fast pace. The growth in the energy sector will lead to more demand for transformers, and hence the market for grain-oriented electrical steel is expected to increase further.
- Non- oriented electrical steel is a fastest growing segment. Application of this material ranges from automobile usages such as hybrid electric vehicle (HEV)/electric vehicle (EV) traction motors and other applications such as electric power steering motors, high-efficiency air-conditioner compressor motors, vacuum cleaner motors, and energy efficient induction motors. The boom in the automotive industry primarily in HEV vehicles market is expected to propel the demand for Non-Grain oriented electrical steel.
Electrical Steel Market Regional Share
- The report is divided based on the geography such as North America, South America, Europe, Asia-Pacific and Rest of the world. Asia-Pacific has the most significant market share for electrical steels owing to its high demand for electricity thereby power transformers.
- The other main reason for the high demand for electrical steel in APAC is the high growth rate of electrical steel end-user industries like automotive, manufacturing and construction in the region.
Electrical Steel Manufacturers
- The Global Electrical Steel market report profiles the following companies-
- ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.
- ArcelorMittal, Baosteel, and NSSMC are critical players in the market and holds the maximum share in the market. ArcelorMittal operates in more than 60 countries, having the largest market in Europe. It was the largest producer of electrical steel in the world in 2017.
- Baosteel Group, a group, based in China exports its products to more than 40 countries and is one of the largest producers of electrical steel. NSSMC provides iron for areas such as construction, automobiles, civil engineering, energy, resources and operates in 15 countries currently.
What are the key segments?
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
- Motors & Generators
By End-User Industry
- Automotive Industry
- Construction Industry
- Domestic Appliances
- Asia Pacific
- North America
- South America
- Rest of the World
Reasons for purchasing this report?
- Visualize the composition of the Electrical Steel Market across each indication, regarding type, end user, and applications, highlighting the critical commercial assets and players.
- Identify commercial opportunities in Electrical Steel market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the Electrical Steel market level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the essential Electrical Steel market products of all major market players
Who can benefit from this report?
- Raw Material Suppliers/ Buyers
- Product Suppliers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
Global Electrical Steel Market
1. Methodology and Scope
1.1. Research Methodology
1.2. The scope of the Report
2. Industry Trends
2.1. Key Trends & Developments
3. Market Outlook
3.1. Industry Impact Factors (Drivers & Restraints)
3.2. Competitive Intensity- Porter 5 Forces
3.3. Regulatory Analysis
3.4. Patent Analysis
4. Product-based Analysis – By Type
4.1. Grain Oriented Electrical Steel
4.2. Non-Grain Oriented Electrical Steel
5. Product-based Analysis – By Application
5.2. Motors & Generators
5.4. Others (Electromagnets)
6. Industry Forecast – By End-User
6.1. Automotive Industry
6.2. Construction Industry
6.4. Domestic Appliances
7. Regional, Country-level Analysis
7.1. North America
7.1.1. The United States
7.2. South America
7.2.3. Rest of South America
7.3.2. United Kingdom
7.3.5. Rest of Europe
7.4.3. South Korea
7.4.6. Rest of Asia-Pacific
7.5. Rest of the World
8. Competitive Trends
8.1. Market Share Analysis
8.2. Key Strategies adopted by Manufacturers
8.3. Product Benchmarking
9. Company Profiles
9.1. ArcelorMittal S.A.
9.2. Baosteel Group Corporation
9.3. Pohang Iron and Steel Company (POSCO)
9.4. Nippon Steel & Sumimoto Metal
9.5. JFE Holdings Inc.
9.6. Jiangsu Shagang Group
9.7. Tata Steel
9.8. The United States Steel Corporation (US Steel)
9.9. Angang Steel Co. Ltd.
10.2. List of Tables
10.3. Expert Panel Validation
10.5. Contact Us